Ex-post incentive compatible and individually rational assignments in housing markets with interdependent values

Yuji Fujinaka and Toshiji Miyakawa

Journal of Mathematical Economics, 2020, vol. 91, issue C, 157-164

Abstract: This paper presents a model for housing markets with interdependent values. We introduce private information on the quality of a house (i.e., high or low), which is known only to the initial owner. Interdependency means that the ex-post preference of an agent depends on the private information of the other agents with regard to the quality of houses. We prove that on a domain satisfying a richness condition, the no-trade rule is the only rule that satisfies ex-post incentive compatibility and ex-post individual rationality.

Keywords: Housing market; Interdependent values; Ex-post incentive compatibility; Ex-post individual rationality; Random assignment (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:91:y:2020:i:c:p:157-164

DOI: 10.1016/j.jmateco.2020.09.002

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